Electric Rates

MGE Electric Rates and Rules  

MGE takes seriously our responsibility to provide safe, reliable energy at reasonable rates. We work hard to control our costs. In 2023, MGE filed an application with the Public Service Commission of Wisconsin (PSCW) to increase electric rates in 2024. The PSCW approved changes, setting our electric rates. Effective Jan. 1, 2024, electric rates for residential customers increased 1.54%.

Electric costs for 2024 include investments made in the West Riverside Energy Center, solar investments and continued investments in grid modernization projects. The collection of the escrow accounts for uncollectible costs, including costs related to COVID, also are included in electric costs for 2024.

In August 2024, the Public Service Commission of Wisconsin (PSCW) approved a $7.2 million credit to MGE electric customers. Actual fuel costs used for electric generation in 2023 were lower than MGE originally forecasted. This credit is part of a standard review the PSCW performs. 

The credit of $0.01056 cents per kilowatt-hour (kWh) will be applied to customer bills over a three-month period from October 2024 through December 2024. Due to MGE's varying billing cycles, most customers will actually see a partial credit on their October bill, full credit on their November and December bills and another partial credit on their January 2025 bill. 

This credit applies to all rate classes except for Green Power Tomorrow (GPT) and Shared Solar. If customers purchase 100% of their energy through GPT, for example, they do not receive the credit because those customers did not pay for the fuel for which we are providing the credit. 

For customers who purchase less than 100% of their electricity through GPT and/or Shared Solar, they receive the credit on only that electricity not covered by GPT and/or Shared Solar. For example, if a customer purchases 60% green energy, then they will receive the credit on 40% of their kWh.